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Edmunds.com estimated that the average automaker incentive in the U.S. was $2,576 per vehicle sold in September 2010, down $125, or 4.6 percent, from August 2010, and down $170, or 6.2 percent, from September 2009.
Read More →Security National Automotive Acceptance Corporation (SNAAC) has secured a $200 million revolving credit facility from Wells Fargo Preferred Capital and Fifth Third Bank.
Read More →NADA Online, the online product for valuations of used cars and trucks from NADA Used Car Guide, is now optimized for smartphones, including iPhones, iPads, Androids and Palm Pre/Pixies.
Read More →General Motors’ acquisition of AmeriCredit Corp. was expected to close on Friday, three days after AmeriCredit’s stockholders approved the sale. The company will be renamed General Motors Financial Company Inc. (GM Financial).
Read More →With the auto finance unit of the Ally Financial hitting its stride, F&I and Showroom magazine decided to find out how GMAC Insurance is faring these days. Gregory Arroyo, the magazine’s executive editor, went one-on-one recently with Tom Callahan, the executive heading up the company’s global insurance operations.
Read More →Digital services provider BlueStar Marketing Group has announced the launch of a new tool designed to allow dealers to track leads on Craigslist and other local or regional classified sites.
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On Monday, President Barack Obama signed into law the Small Business Jobs Act of 2010 in the presence of lawmakers, governors and several small business owners who championed the legislation. The new bill expands upon a Small Business Administration pilot program that made available floorplan financing loans of up to $2 million to U.S. auto dealers. The new bill raises the limit on such loans to $5 million for creditworthy dealers.
Read More →Fortegra Financial Corporation announced that it has filed a Form S-1 registration statement with the Securities and Exchange Commission for a proposed initial public offering of its common stock.
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On September 15, F&I and Showroom magazine named Riverside Auto Group as its 2010 F&I Dealer of the Year. The award was presented during a special ceremony at the F&I Conference and Expo at the Paris Las Vegas Hotel and Casino.
Read More →Weighed down by a significant decline in private-party sales, used-vehicle sales are expected to drop 3.7 percent in September, according to CNW Research.
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